Cybersecurity threats have been on the rise, but in the past few years since the COVID-19 pandemic, cybercrime has skyrocketed with a 600% increase. At the same time, almost one-third of businesses can expect a data breach within the next two years. Many companies are now turning to cybersecurity services to help protect their most valuable digital assets.
Management teams and developers are looking for ways to boost their cyber security. As the costs of maintaining an extensive and ever-growing cyber security operation continue to grow, more and more businesses are looking at mitigating the risk through external services.
What are cyber security services?
Cyber security services is an umbrella term to describe professional services and tools that act as a company's security solution. This can include requesting an audit from a security expert, penetration testing, data storage, breach response services, and an array of other managed cybersecurity services.
While SaaS companies and startups try to bake cyber security elements into their software, end-to-end security solutions are expensive to develop in-house and maintain. Consequently, many choose to hire outside cybersecurity service professionals to manage their operations.
The cybersecurity solution a business requires largely depends on their specific needs and information architecture. For example, a startup that deals with credit card payments or other sensitive data may need an underlying platform to streamline compliance, such as data tokenization and storage platform. This is because the cyber risk is huge. A software provider dealing with marketing technology that stores very little personal information would need far fewer protocols in comparison.
If you are about to make a decision on a third-party vendor or cybersecurity partnership, it's important to review the different types of professional services offered today.
What are the different types of cybersecurity services?
Cybersecurity is a rapidly growing field, and there are various types of services available. The main types of cyber security professional services are:
Perimeter and intranet security
Perimeter security, also known as network security, refers to how companies protect their points of entry from a cyber attack. This can include cloud security services, mobile device usage, and general internet monitoring. Any device that can connect to the internet and access a company's network is a potential risk. The purpose of perimeter security is to ensure that malware activated on one device is not likely to spread within the network.
Examples of network security include firewalls, spam protection, and Intrusion Prevention Systems (IPS).
Typically, perimeter security comes in the form of software. These measures may be included with a full security monitoring service, or a company can choose software for each function. It is ideal to consult with a security expert, in either case, to ensure that there are no vulnerabilities or incompatibilities.
Intranet security operations deal with resolving an attack that has infiltrated the network. Companies use anti-malware software and update their current technology stack regularly to reduce the likelihood of cyber risk.
Human error contributes to 95% of security breaches. For a successful security solution, it is essential that businesses invest in reducing the likelihood of human error. Security flaws can be anything from weak passwords to clicking on spam links.
Outside of investing in security solutions, one of the best ways to reduce the chance of a breach is to have all employees undergo security operations training. All staff should understand what is expected when it comes to security monitoring, handling sensitive data, and using the internet on a company network.
Some consulting services or managed cybersecurity services provide training materials and resources for staff. For information on training IT teams, click here.
Testing and assessments
Finally, the most common managed services that companies outsource are testing and assessments. The best way to locate weak areas in the system is to bring in an outside expert. These consultants and security experts can conduct a vulnerability assessment or provide penetration testing services.
There are even platforms that assist with achieving compliance certifications. These security solutions first map out a business's system, then recommend solutions. Some services may even offer to take on some of the burdens and liabilities related to security, such as storing sensitive data.
What is the cost of cyber security services?
The total cost of cyber security services varies depending on the type of service. Solutions like anti-virus software are often monthly or annual payments. Larger businesses may want to outsource their security operations entirely, which would likely take the form of an annual contract.
Cybersecurity consulting can cost well over $100 per hour, depending on the professional's location and expertise. Each software also comes with its own price tag. For example:
- Firewalls can cost between $400 to $6,000, and installation starts at $450.
- Endpoint security and response services start at around $5 per user and $9 per server.
- Anti-virus monitoring software begins at about $100 per month, but larger networks can easily spend up to $2,000 per month.
- A vulnerability assessment ranges from $1,500 to $10,000.
An investment into cybersecurity may appear unfeasible, but consider the long-term damage of a data leak. The average cost of a data breach is $3.83 million dollars. Furthermore, companies that suffer from a successful cyberattack face additional short-term and long-term expenses, such as:
- Business downtime
- Loss of customers
- Loss of consumer trust
- Legal fees
- Non-compliance penalties
In other words, it’s too expensive not to invest in cyber security services.
Cybersecurity services are no longer "nice to haves.” To prepare for today's cyber threats, your organization needs some security measures in place.
For CEOs, founders, and management teams, the first step to understanding what their businesses require is to contact a security professional for a consultation. These professionals can not only pinpoint vulnerabilities in a system but also provide recommendations to meet compliance and industry standards. Furthermore, these experts should be able to direct companies to a managed cybersecurity service or compile a list of solutions that meet an organization's budget.
It’s important to remember that cybersecurity services generally have a cost associated with them. This will vary depending on the specific service needed. For help budgeting for cybersecurity, we encourage you to check out our latest article on the topic here.
About the authorJuan Pablo González
Working as Foreworth’s Chief Technical Officer, Juan Pablo (JP) manages the company’s technical strategy. With nearly 20 years of experience in software development, he ensures the development process at Foreworth is meeting its keys objectives and technical requirements.More info →
What do you think? Leave us your comments here!